Macphersons hit 3 ounces to the tonne gold in Kal

Macphersons Resources’ major RC drill program at the Boorara Gold project on Kalgoorlie’s doorstep has started in spectacular fashion with some bonanza gold hits at the Southern Stockwork deposit.

The aspiring gold producer told the ASX that hole BORC 189 had intersected 4 metres at 91.4 g/t Gold from a depth of just 56 metres, including 1 metre at a whopping 241 g/t and 1 metre at 123 g/t.

Other highlights from the initial set of 13 RC holes include a six metre intersection grading 21.28 g/t, including 1 metre at 126 g/t, and 31 metres at 1.62 g/t.

The initial batch of 13 holes represents only 2,400 metres of a major program totalling 37,000 metres, due to be completed by the end of December.

The 100%-owned Boorara project currently stands at 5.95 million tonnes at 1.2 g/t Gold for 232,000 ounces with 90% of the resource at depths of less than 120 metres.

The infill program will be drilled on a grid no larger than 20 metres x 20 metres to depths of 250 metres, which gives some indication of the additional tonnes that Macphersons are confident of firming up.

The company reported that, following the excellent start to the program, Management was confident it would lead to an increase in the grade and size of the Boorara gold resource.

Macphersons aims to determine a new open-pit resource estimate early in the New Year as part of a fast-track open pit development.

Meanwhile, the high-grade underground story at Boorara is approaching a critical phase with the company reporting that the much-anticipated deep diamond drill hole at the Southern Stockwork deposit commenced on the 20th of October. The hole is being drilled with WA government co-funding of $200,000 to test for high-grade mineralised extensions of the Boorara dolerite at depth.

Deeper holes drilled to date by Macphersons have suggested that grade improves significantly with depth. With so much evidence emerging this year that Boorara could be the long lost sister of the nearby 6m ounce Mt Charlotte orebody, a sense of excitement has been created around the company.

The deep hole is due to be completed in December at a depth of 1,000 metres, which is almost twice as deep as the next deepest hole at Boorara.